Retirement Abroad - Questions to Ask Before Leaving

Many of us have imagined it - a retirement in the sun with palm trees swaying in the wind and adventures awaiting us. The thrill of living in a new location, learning the language and enjoying the customs. When shrinking nest eggs and Social Security looks to cover less, living in a foreign country cheaper looks like a great alternative. It all seems great, and many Americans are choosing to retire abroad. But a life of retirement in another country is not all palm trees and adventure. There are restrictions and red tape to overcome, as well as language barriers, culture shock, the distance from home and the loneliness. That is why before making the leap to retirement in another country, you should ask yourself these seven questions first.

1. Have You Researched Your Destination Thoroughly?

No doubt you have spent the time online researching the destination you would like to retire to aboard, but is that enough? It is important that you consider traveling to your retirement destination a couple of times before you decide. Make sure you visit at different times of the year to know what it is like in the summer, winter, spring or fall. Seek out others in the area who have retired to the destination you're considering and get their advice as well as a reliable local lawyer to discuss any legal issues related to retiring in that location.

2. How Will Your Family React to a Retirement Abroad?

Depending on how close your family is to you, it is important that your retirement destination have an airport nearby. Access to the United States and other travel costs for you and your family to visit should be considered when retiring abroad.

3. Do You Have the Laid Back Attitude to Retire Aboard?

Many countries that you might consider to retire abroad have a more laid back attitude toward life. Latin America and Europe are infamous for inefficiency and delays as well as daunting red tape to get things done.

4. Are You Willing to Learn a New Language?

Sure, most countries speak the English language, but having some conversational language of the country you're retiring in will make your life a little easier. Knowing some of the native language will also enhance your retirement life while living abroad.

5. Can You Accept Being the Minority?

There is little doubt you will find a few American citizens where you decide to retire, but you will be the foreigner in your new retirement home. It is important to understand that you will be a minority in that country.

6. Can You Do Without?

Here in the United States everything is close to home and you get used to having many things. In a retirement home abroad, you will not have access to first run movies, cable TV, Oreos, hot dogs and other things we take for granted.

7. Are You Ready for a Life Changing Adventure?

Many who are looking abroad for retirement see it as a way to lower their cost of living and not see it as an adventure. When choosing to live abroad in your retirement, it is important that you embrace the experience of living outside of the United States and know that you will be exposed to the good and the bad of your new retirement home.